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Asset management giant BlackRock has filed a new filing for the offering and trading of a staked Ethereum-based ETF.
If the product is approved by the U.S. Securities and Exchange Commission (SEC), investors will be able to gain indirect access to staked Ethereum, and it will be one of the first crypto-staking-related ETFs after spot Ethereum ETFs were approved in 2024.
The new ETF will reportedly trade on the Nasdaq under the symbol ETHB. BlackRock’s move represents an expansion of the global asset management giant’s presence in the cryptocurrency market and could increase capital inflows and ETH price volatility.
Previously, Grayscale and BitWise have also offered similar staking funds for Ethereum and Solana, but the number of these products is still limited.
The move also marks a shift in BlackRock CEO Larry Fink’s view of crypto; He previously considered Bitcoin a “scary asset,” but now predicts a bullish outlook for the cryptocurrency market.
Cointelegraph
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